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UNUS SED LEO price prediction: Will LEO rise further?


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UNUS SED LEO coin
LEO is up 37% year-to-date, but can it continue rising? – Photo: Diego Ioppolo / Shutterstock.com

UNUS SED LEO (LEO), the native cryptocurrency of crypto exchange Bitfinex, weathered the Terra LUNA and UST flash crash that rattled the market in mid-June. While market leading Bitcoin (BTC) fell below $20,000, LEO rose. 

It continued to climb throughout August and is up 7% over the past 30 days, as of 7 September 2022. It is currently holding above the $5 mark, despite a broader cryptocurrency sell-off. LEO has also cemented itself within the top 20 cryptocurrencies and is currently ranked 17 by market capitalisation. 

Will LEO continue rising, or will it succumb to wider market conditions? This article covers the project’s fundamental and technical analysis to help you form a LEO token price prediction.

What is UNUS SED LEO?

LEO is the native token of iFinex, the parent company of the cryptocurrency exchange Bifinex. 

Named after a Latin citation from one of Aesop’s fables, LEO is a utility token created to return funds to investors after it was hacked in 2016 and funds from its payment processor Crypto Capital were seized by the Polish, US and Portuguese authorities in 2018.

The token was launched in May 2019, when Bitfinex conducted a private sale of 100% of outstanding UNUS SED LEO tokens worth $1bn in the Tether stablecoin (USDT). The UNUS SED LEO cryptocurrency was designed with a buyback and burn programme – iFinex will gradually buy LEO back from the market until there is no circulating supply left.

At the time of writing on 7 September 2022, there were 953 million LEO tokens in circulation.

LEO token holders can use it to get special benefits on the Bitfinex exchange, including reduced taker and lending fees and also a fee discount on crypto and fiat withdrawals. 

What supports the LEO price today? Read on for the latest project developments and LEO coin news that could potentially affect its price outlook. 

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LEO is the top crypto gainer year-to-date

The LEO token has attracted traders’ attention lately, showing the best performance among its crypto peers YTD (as of 7 September 2022).

While the crypto market is bleeding, LEO has gained around 37%.

Ajibola Akamo, an investment analyst at Nairametrics, wrote on 12 June: “LEO could act as a hedge against future crashes like it did this time. This is because from the beginning of May, LEO corrected hardly by 16% while Bitcoin has touched a low of over 30% in the same timeframe. However, this line of thought needs to stand the test of time.”

LEO/USD price analysis

The LEO token was launched in May 2019. Since then, it has returned an ROI of 397% (as of 7 September 2022). Based on the earliest available price chart from 2019, the LEO token spiked from $1.09 on 23 May to $1.97 on 12 June. However, its price action remained bearish for the rest of 2019, and it closed the year at $0.81.

LEO’s price failed to see any significant momentum in 2020. In 2021, though, the broader cryptocurrency market turned bullish and several coins, including BTC and ETH, reached new highs. The LEO token’s price action turned similarly bullish, spiking from $1.35 on 1 January to $3.89 on 12 May. LEO declined to $2.79 on 13 November and closed the year at $3.76.

SHIB/USD

0.00 Price
+3.830% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00000043

DOGE/USD

0.06 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00093

XRP/USD

0.50 Price
-0.720% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

BTC/USD

18,972.10 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 60.00

2022 has been an eventful year for the LEO token so far. While the broader crypto market has been shedding value and declining since the start of the year, LEO has risen, reaching an all-time high of $8.04 on 8 February. The price has since declined, and LEO reached $5.34 on 5 March, but it has managed to weather the recent crypto crashes and maintain its value above the $5 mark

At the time of writing (7 September 2022), LEO was trading at $5.23, up 7% over the past month, and was ranked 17 by its market capitalisation of $4.9bn.

LEO price chart, all-time performance

Source: CoinMarketCap

UNUS SED LEO price prediction: Targets for 2022, 2025 and 2030

According to a short-term LEO coin forecast from CoinCodex, sentiment was neutral as of 7 September 2022, with 14 indicators giving bullish signals and 15 bearish. CoinCodex said it could increase slightly to reach $5.53 by 6 October.

Meanwhile, several algorithm-based forecasting services gave longer-term UNUS SED LEO predictions as of 7 September:

According to WalletInvestor’s LEO price prediction, the token could be an ‘outstanding’ long-term investment. Its UNUS SED LEO price prediction for 2022 estimated that the coin’s average price could reach $8.06 in a year. Its five-year LEO coin price prediction indicated that the token could hit $19.11.

The LEO crypto price prediction from PricePrediction was even more bullish as of 7 September 2022. It suggested that the average price this year could be $5.69, rising to $8.50 in 2023. Its UNUS SED LEO price prediction for 2025 expected it to trade at $16.60, and $108.55 in 2030.

The LEO coin price prediction from DigitalCoinPrice also indicated that the token could rise. It estimated a future target price for the token at $6.72 in 2022 and $20.65 in 2025. Its UNUS SED LEO price prediction for 2030 suggested an average price of $71.82.

When looking for LEO coin price prediction, remember that analysts and algorithm-based forecasters can get their expectations wrong. Their LEO projections are based on fundamental and technical studies of a cryptocurrency’s past performance. Past performance is no guarantee of future results.

It’s essential to do your research and always remember your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your portfolio, and how comfortable you feel about losing money. And never trade more money than you can afford to lose.

FAQs

Is UNUS SED LEO a good investment?

LEO is the native token of the Bitfinex cryptocurrency exchange that was launched in May 2019. It has been one of the strongest performing coins in 2022, which saw a bullish momentum despite the broader bearish conditions. 

Whether LEO is a good investment for you depends on your personal circumstances and risk appetite. Cryptocurrencies are high-risk assets. You should do your own research and evaluate the level of risk you are prepared to accept before trading. And never trade more money than you can afford to lose.

Will UNUS SED LEO go up or down?

As of 7 September 2022, several algorithmic forecasting tools, including WalletInvestor, DigitalCoinPrice and PricePrediction, were bullish on LEO token price projections over the next few years. But its current upward trend is not guaranteed to continue. 

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether LEO is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Should I invest in UNUS SED LEO?

LEO has defied the wider bearish market and has made strong gains in 2022. However, it was down 34% from its February 2022 all-time high as of 7 September 2022. 

Whether you should invest in LEO is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.

Further reading

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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